Wall Street brokerages predict that Quanta Services, Inc. (NYSE:PWR) will announce earnings of $0.56 per share for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Quanta Services’ earnings, with estimates ranging from $0.46 to $0.61. Quanta Services reported earnings per share of $0.51 during the same quarter last year, which would suggest a positive year over year growth rate of 9.8%. The company is expected to announce its next earnings report on Thursday, November 2nd.

On average, analysts expect that Quanta Services will report full year earnings of $1.80 per share for the current fiscal year, with EPS estimates ranging from $1.74 to $1.86. For the next financial year, analysts forecast that the firm will post earnings of $2.30 per share, with EPS estimates ranging from $2.15 to $2.54. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Quanta Services.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.03. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Quanta Services had a return on equity of 8.36% and a net margin of 3.21%. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS.

PWR has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Quanta Services from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine upgraded shares of Quanta Services from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. TheStreet lowered shares of Quanta Services from a “b” rating to a “c+” rating in a research report on Friday, May 26th. Finally, Stifel Nicolaus restated a “buy” rating and set a $43.00 price objective on shares of Quanta Services in a research report on Friday, July 7th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $41.11.

In other Quanta Services news, Director John Michal Conaway sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $35.79, for a total value of $143,160.00. Following the completion of the transaction, the director now directly owns 17,152 shares in the company, valued at $613,870.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Assetmark Inc. raised its stake in Quanta Services by 567.3% in the second quarter. Assetmark Inc. now owns 114,706 shares of the construction company’s stock worth $3,776,000 after buying an additional 97,516 shares during the period. Argent Capital Management LLC bought a new stake in Quanta Services during the second quarter worth about $1,630,000. Tower Research Capital LLC TRC raised its stake in Quanta Services by 182.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the construction company’s stock worth $112,000 after buying an additional 2,190 shares during the period. The Manufacturers Life Insurance Company raised its stake in Quanta Services by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 176,231 shares of the construction company’s stock worth $5,802,000 after buying an additional 6,779 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in Quanta Services by 49.3% in the second quarter. Cubist Systematic Strategies LLC now owns 34,503 shares of the construction company’s stock worth $1,136,000 after buying an additional 11,388 shares during the period. 89.02% of the stock is owned by institutional investors and hedge funds.

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Quanta Services (NYSE:PWR) traded down 0.62% during mid-day trading on Tuesday, reaching $35.40. 79,083 shares of the company were exchanged. The stock has a market capitalization of $5.49 billion, a P/E ratio of 20.13 and a beta of 0.84. Quanta Services has a 12 month low of $24.49 and a 12 month high of $38.82. The company’s 50 day moving average price is $33.94 and its 200-day moving average price is $34.72.

Quanta Services declared that its Board of Directors has approved a stock repurchase program on Thursday, May 25th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Quanta Services Company Profile

Quanta Services, Inc is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and oil and gas industries in the United States, Canada and Australia and selected other international markets. The Company operates through two segments: Electric Power Infrastructure Services, which provides network solutions to customers in the electric power industry, and Oil and Gas Infrastructure Services, which provides network solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products.

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